The Economy in Turkey 2018
The Turkish economy grew at a rate of 3.2% in 2016, largely due to the attempted coup and terror attacks. The outlook was negative in the beginning of 2017. Expectations for growth were in the range of 2.5-3% and the Turkish lira was losing value against the dollar. The early retreat of risk perceptions in tight market conditions supported growth, as did measures taken by the government to increase domestic demand. In the first 9 months the economy grew at a rate of 7.4%. However,…
The Economy in Turkey in 2017
2016 was a difficult year for Turkey. It was a year in which we hoped that we could focus on economic reforms following the November 2015 elections, but instead the agenda was dominated by political developments, including the resignation of the government, an attempted coup, and a proposal to amend the constitution. Furthermore, the continuation of increasingly violent terrorist attacks, the initiation of cross-border military operations in Syria, and domestic repercussions have placed security at the top of the national agenda. Despite these conditions, the…
A New Era for the Customs Union and the Business World
TÜSİAD has published a report that analyzes the effects of deepening and modernizing the Customs Union between Turkey and the European Union. The report, entitled, “A New Era for the Customs Union and the Business World,” is a detailed study of the Customs Union, in the context of Turkey’s European Union membership and its participation in TTIP. Expanding and updating the Customs Union, in order to remove asymmetries and increase cooperation mechanisms between Turkey and the European Union, is critical for Turkey’s economy. The report…
Ties That Bind: Turkey, TTIP and Transatlantic Partnership
by Baris Ornarli & Audrey Stevens Late last month, EU Trade Commissioner Cecilia Malmström met with U.S. Trade Representative Michael Froman for nearly five hours in an effort to provide momentum to the Transatlantic Trade and Investment Partnership (TTIP) negotiations. Negotiations are progressing slowly, however both sides are reportedly looking to accelerate the process in order to finalize TTIP before President Barack Obama leaves office in January 2017. During this critical phase of negotiations, it is important to reiterate the true potential of TTIP and…
Business Priorities for Turkey’s G20 Presidency in 2015
Turkey assumes the G20 Presidency in 2015 and will chair and host the B20. In that context, the Turkish Industry and Business Association (TUSIAD) initiated a global study to define the private sector’s priorities for the recommendations that will be produced during Turkey’s Presidency, with special focus on the increasing role of emerging markets and G20 in the world economy. A survey was conducted with business leaders of six G20 countries: Brazil, France, India, United Kingdom, United States and Turkey. The results of the survey are analyzed…